Market Outlook of S&P500 - 23Dec24
Observations:
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The MACD indicator is showing a downtrend.
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Moving Averages (MA). Both the MA50 line and the MA200 line are on an uptrend. Both MA50 and MA200 lines are above the last candle. Thus, it could be read as bearish for both the mid and the long-term.
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The 3 Exponential Moving Averages (EMA) lines are on a downtrend.
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Chaikin’s Monetary flow (CMF) shows a downtrend.
The 20 indicators point to a “Sell” rating for the S&P500 (for Daily intervals). Seven indicators recommend a “Buy” rating, and 13 recommend a “Sell” rating.
The latest candlestick pattern seems to point to a more “bullish” outlook. Based on the above, the S&P500 should see a downtrend in the coming days.
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